Given an installment loan of $12000 for three years. add 8% interest. What will be the monthly payment?
2006-06-19 06:46:18 · 7 answers · asked by berenice 1 in Education & Reference ➔ Homework Help
359.99
2006-06-19 06:49:43 · answer #1 · answered by ? 6 · 0⤊ 0⤋
12000 + 8%= 12960
12960 / 36 month = 360
= 360 payment per month.
2006-06-19 13:51:12 · answer #2 · answered by Anry 7 · 0⤊ 0⤋
Umm, is the interest annual or monthly. Are you looking for the payment to pay back the loan in exactly three years?
2006-06-19 13:50:19 · answer #3 · answered by Ian M 5 · 0⤊ 0⤋
It really depends on what type of interest is being charged, but approximately you'll be looking at $360 a month.
-J.
2006-06-19 13:50:23 · answer #4 · answered by Jason 4 · 0⤊ 0⤋
about $360 a month
2006-06-19 13:52:03 · answer #5 · answered by ? 2 · 0⤊ 0⤋
around 360
2006-06-19 13:52:00 · answer #6 · answered by ♥aggie luvr♥ 1 · 0⤊ 0⤋
376.04
2006-06-19 13:52:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋